Branch subsidiary of JSC "Baiterek National Management Holding"

Fitch confirmed ratings of House construction savings bank of Kazakhstan at BBB- level, forecast is stable

8 April 2019
On the 4th of April 2019 Fitch ratings international rating agency confirmed long-term ratings of default of issuer – House construction savings bank of Kazakhstan (HCSBK) at BBB- level. Forecast by ratings is stable.
Currently HCSBK is a leader of mortgage lending market. Current rating and confirmation thereof point to stability and reliability thereof, efficiency of managerial activity and business strategy, good credit solvency, law expectations by credit risks, - explained Lyazzat Ibragimova – chairperson of House construction savings bank of Kazakhstan executive board.
Confirmation of HCSBK long-term rating reflects agency opinion about high readiness of state to provide support in case of need since the Bank plays an important role in selling of the housing construction savings system and on mortgage market of Kazakhstan as a whole.
Whereas in Fitch Ratings opinion HCSBK unlikely to need support in mid-term perspective, besides the agency points to stable quality of Bank's credit portfolio (non-oprating assets index is 0,3 whereas medium index of all Kazakhstan banks – 8,3%), optimum reserve of capital as well as comfortable reserve of liquidity.

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